On Tuesday, the entertainment business mm2 Asia revealed the opening of a new marketplace for licensed digital entertainment tokens and collectibles that would concentrate on renowned entertainment and media content from the area.

According to a bourse filing, the marketplace, called Metaviva, will use blockchain technology to let fans interact and participate in their favorite content using non-fungible tokens (NFTs).

According to mm2, the Metaviva marketplace will act as a center for customers to buy, sell, trade, and store digital tokens and be compatible with blockchain systems like Polygon and EthereuIn addition, exclusively key art, audiovisual footage, music, animation, merchandising, and genuine items from movies, TV programs, and events are among the treasures.

Mr. Melvin Ang, creator and executive chairman of mm2 Asia, believes that the market for digital treasures would outnumber the market for tangible assets in the future.

We want to build a platform that will enable content producers to build their brands and community fan base by creating offerings that were previously only available to insiders of the industry,” he said.

According to the company, content creators from the area will also be welcomed to advertise their NFTs on mm2 Asia’s marketplace. According to the company, the launch date for Metaviva will be revealed in the following weeks.

In addition, Metaviva stated that it signed a non-binding term sheet with RHT Aldigi Financial to invest in the firm.

RHTLaw Asia LLP will offer legal services regarding the NFT marketplace as part of Metaviva’s investment agreement.

After the news, mm2 Asia shares traded at 5.3 cents, up 0.1 cent or 1.9 percent, at 11:13 a.m. on Tuesday.

Last week, mm2 Asia announced that its proposal to sell its Cathay cinema company for $84.8 million to local investment group Kingsmead Properties had fallen through.

It also said last Friday that a merger of its Cathay Cineplexes and Golden Village’s theaters in Hong Kong is off the table, stating that the long-stop date of the proposed transaction had passed on December 31.

LEAVE A REPLY

Please enter your comment!
Please enter your name here